EUR/USD
The EUR/USD pair trades on a positive note near 1.1980 during the early European session on Thursday. The US Dollar (USD) remains weak against the Euro (EUR) amid uncertainty over US economic policies. The Eurozone Consumer Confidence and US Initial Jobless Claims reports are due later on Thursday.
GBP/USD
GBP/USD recovers its recent losses from the previous session, trading around 1.3830 during the Asian hours on Thursday. The technical analysis of the daily chart points to a potential bearish reversal as the range narrows, indicating waning buyer momentum within a rising wedge pattern.
USD/JPY
The USD/JPY pair recovers some lost ground to near 153.35 during the early Asian session on Thursday. The US Dollar (USD) strengthens against the Japanese Yen (JPY) after US Treasury Secretary Scott Bessent affirms a strong USD policy. The US weekly Initial Jobless Claims report is due later on Thursday.
AUD/USD
The AUD/USD pair extends its strong uptrend witnessed over the past two weeks or so and jumps to a fresh high since February 2023, closer to the 0.7100 mark, during the Asian session on Thursday. Moreover, the supportive technical setup suggests that the path of least resistance for spot prices remains to the upside.
NZD/USD
The NZD/USD pair trades in positive territory near 0.6055 during the early Asian session on Thursday. The New Zealand Dollar (NZD) edges higher against the Greenback amid encouraging New Zealand’s Trade Balance data. Traders will keep an eye on the US weekly Initial Jobless Claims report, which will be released later on Thursday.
USD/CAD
The USD/CAD pair attracts some follow-through sellers for the third consecutive day and drops to its lowest level since October 2024 during the Asian session on Thursday. Spot prices currently trade around the 1.3540-1.3535 region, down 0.15% for the day, and seem vulnerable to decline further amid a combination of factors.
USD/CHF
The USD/CHF pair attracts some sellers to around 0.7650 during the early European session on Thursday. Worries about the Federal Reserve (Fed) independence, concerns over another US government shutdown, and ongoing geopolitical tensions provide some support to the safe-haven currencies such as the Swiss Franc (CHF) against the Greenback. The Swiss December Trade Balance and US weekly Initial Jobless Claims will be released later in the day.
CRUDE OIL
Oil prices rose more than 1.5% in Asian trade, extending gains for a third day on Thursday, on increasing concerns the U.S. may carry out a military attack on key Middle Eastern producer Iran that could disrupt supply from the region.
Gold (XAU/USD) maintains its strong bid tone near the all-time peak through the early European session on Thursday, eyeing the $5,600 mark amid a supportive fundamental backdrop. Investors continue to seek refuge in traditional safe-haven assets on the back of heightened geopolitical and economic uncertainties, which have been fueling the commodity’s parabolic rise of more than 10% since the beginning of this week. Apart from this, the recent US Dollar (USD) slump to its lowest level since February 2022 turns out to be another factor behind the precious metal’s blistering rally for the ninth straight day.
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